BECN News & Events

QXO (QXO) announced that it is extending its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply (BECN) for $124.35 per share. Beacon's board of directors unanimously recommends that all shareholders tender their shares into the offer. The tender offer will remain open until 5:00 p.m. (New York City time) on April 28. The transaction is expected to close at or near the end of April, subject to a majority of Beacon shares tendering in the offer and other customary closing conditions. The acquisition has received antitrust clearance in the U.S. and Canada.

QXO (QXO) announced it intends to make an offering of $500M of shares of its common stock. QXO intends to use the net proceeds from the offering to finance a portion of the consideration for the pending acquisition of Beacon Roofing Supply (BECN). However, the offering is not contingent on the consummation of the acquisition. Morgan Stanley Co. and Goldman Sachs & Co. are acting as the underwriters for the offering.